Wipro revenue increases 14.6% to $2.8 bn in July-Sept

Indian IT services and consultancy company Wipro announced financial results for the quarter ended September 30, 2022.
Wipro employeesGross Revenue was $2.8 billion, an increase of 14.6 percent.

IT Services Segment Revenue was $2,797.7 million, an increase of 8.4 percent.

IT Services Operating Margin for the quarter was 15.1 percent, an increase of 16 bps QoQ, Wipro said.

Net Income for the quarter was $326.8 million.

Net Income for the quarter was $590 million, an increase of 101.0 percent.

Employee count in IT Services increased to 259,179.

Voluntary attrition measured in trailing twelve months for the quarter was 23, a moderation of 30 bps from the previous quarter/

Wipro’s top 5 clients grew 19 percent and top 10 clients grew 17 percent.

Wipro said it expects revenue from IT Services business to be in the range of $2,811 million to $2,853 million. This translates to a sequential growth of 0.5 percent to 2.0 percent.